GSI Group Reports First Quarter 2014 Growth
BEDFORD, Mass., May 13, 2014 — GSI Group Inc., a global supplier of precision photonics and motion control components for medical equipment and advanced industrial markets, saw moderate growth during the first quarter of 2014.
The company reported revenue of $79.1 million for the first quarter this year, a 5.4 percent increase over first-quarter 2013 revenue of $75.1 million.
GSI’s acquisition of Jadak — a provider of optical data collection and machine vision technologies for medical OEMs — earlier this year has already contributed a growth in revenue of 2.9 percent.
The company’s laser products and precision motion segments saw 10 percent and 12 percent increases, respectively, while the medical technologies division was down 5 percent.
The company anticipates continued growth throughout 2014, with an expected increase of 13 to 19 percent in the second quarter, compared to the same period last year.
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